Idea’s proposal assumes significance against the backdrop of pending merger with Vodafone India to form the country’s largest telecom operator. Photo: BloombergNew Delhi:The telecom ministry is the competent authority to take the final call on Idea Cellular Ltd’s proposal for infusing 100% foreign direct investment (FDI) in the company, commerce and industry minister Suresh Prabhu has said. Idea’s proposal assumes significance against the backdrop of pending merger with Vodafone India to form the country’s largest telecom operator. British telecom multinational Vodafone Group plc is a majority shareholder in Vodafone India. The debt of resultant entity is expected to be around 1.1 trillion as per debt situation of Idea and Vodafone India at the end of September 2017.

Source: Mint May 06, 2018 05:26 UTC